In recent weeks, several biotech and pharmaceutical companies have announced significant layoffs, reshaping their organizations for various reasons. Some of these reasons include financial difficulties, strategic shifts, competitive pressures, and regulatory setbacks. More than 1,000 employees have been affected by these layoffs across the industry. The following table summarizes some of the major layoffs that occurred in August 2023.
| Date | Company | Number of Layoffs | Reasons for Layoff |
| Aug 31 | NexImmune | 25 employees | Cost reduction and cash extension measures |
| Aug 31 | Sana Biotechnology | Undisclosed | Company restructuring and operating efficiency |
| Aug 31 | Sage Therapeutics | Approximately 40% | Right-sizing the organization for Zurzuvae launch in PPD. Departure of CSO and Chief Development Officer |
| Aug 29 | Apellis Pharmaceuticals | 225 employees | Economic factors and competition from Astellas |
| Aug 24 | Pfizer | 69 employees | Discontinuation of some research projects for focused innovation and high-impact breakthroughs |
| Aug 24 | Agenus | 25% of workforce | Focusing resources on BOT/BAL program and halting other programs temporarily |
| Aug 23 | Novartis | 103 employees | Campus redesign for faster trial recruitment and enhanced trial delivery |
| Aug 22 | Lava Therapeutics | 36% of employees | Reprioritization after discontinuing LAVA-051 development |
| Aug 22 | Aravive | 70% of staff | Conservational measures following the failure of batiraxcept in Phase III trial |
| Aug 17 | BlueRock Therapeutics | About 50 employees | Strategic realignment |
| Aug 14 | Thermo Fisher Scientific | 205 employees | Business changes and streamlining operations |
| Aug 14 | Alaunos Therapeutics | 60% of employees | Strategic shift towards hunTR TCR discovery platform and partnership exploration |
| Aug 14 | BioXcel Therapeutics | Over 50% of workforce | Reducing operating expenses and shifting focus to BXCL501 development |
| Aug 14 | Bristol Myers Squibb | 108 employees | Lower revenue projections and reduced sales of Revlimid |
| Aug 10 | Atreca | About 40% of employees | Focusing on preclinical antibody-drug conjugate candidates after suspending ATRC-101 development |
| Aug 9 | Galera Therapeutics | Approximately 70% | Extending cash runway after FDA rejection of avasopasem manganese |
| Aug 9 | INOVIO Pharmaceuticals | 58 employees | Shifting focus and cost savings following discontinuation of VGX-3100 cervical lesion program |
| Aug 8 | Salarius Pharmaceuticals | More than half | Exploring strategic alternatives and resource extension |
| Aug 8 | Emergent BioSolutions | Approximately 400 | Focusing on core businesses, medical countermeasures, and Narcan |
| Aug 8 | Curebase | Undisclosed | Sunsetting full-service clinical operations business due to industry challenges |
| Aug 3 | Celsius Therapeutics | About two-thirds | Focusing on nearest-term value drivers and reducing operating expenses |
| Aug 2 | Karyopharm Therapeutics | Around 20% | Focusing on late-stage core programs and cash runway extension |
| Aug 2 | Intergalactic Therapeutics | All employees | Economic challenges and inability to raise capital |
| Aug 2 | SterRx | 161 employees | Economic reasons resulting in facility closure |
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